qualified plan

(redirected from Qualified Pension Plans)

Qualified Plan

An annuity that one buys along with one's employer. That is, the annuitant and his/her employer both make tax-deferred contributions to the plan for a certain period, with withdrawals coming upon retirement. If the annuitant begins withdrawals before a certain age, withdrawal penalties apply. One may continue to make contributions until a certain age, usually around 65.

qualified plan

An employer-sponsored tax-deferred employee benefit plan that meets the standards of the Internal Revenue Code of 1954 and that qualifies for favorable tax treatment. Contributions by an employer and an employee accumulate without being taxed until payouts are made at the employee's retirement or termination.
References in periodicals archive ?
While working at these universities, he contributed to qualified pension plans under U.
According to The Associated Press, the agreement was presented ahead of an upcoming hearing that will see Delta request that the court terminates its obligations under qualified pension plans.
6 Pension Plus Qualified pension plans for businesses.
Common types of retirement plans include individual retirement accounts (both Roth and regular), tax-sheltered annuities (403(b) plans), qualified pension plans, 401 (k) plans, simplified employee plans (SEPs) and "Rabbi trusts.
Both pre-tax (salary deferral) and after-tax contributions to qualified pension plans must be held in trust as soon as they are deemed to be plan assets.
Paralegal Guide to Qualified Pension Plans Under ERISA includes an explanation of the law, regulations, agencies and procedures that constitute an ERISA practice.
For all qualified pension plans, PL104-188 changes the definition of compensation, effective for limitation years beginning on or after January 1, 1998, to include elective employee contributions to certain employee benefit plans, including [section]401(k) plans and similar arrangements, [section]457 nonqualified deferred compensation plans, and [section]125 cafeteria plans.
Both plans would eliminate or reduce the current tax incentives for employer contributions to qualified pension plans.
Today, executives can receive no more than $112,221 annually from qualified pension plans, down from $136,000 in 1982.
The court found that, although Congress has sought to eliminate most of the distinctions between the contributions of a corporate employer and a self-employed individual to qualified pension plans, "the legislative scheme does not show a congressional intent to allow the deduction claimed by the taxpayer.
However, use of this book as a text or supplemental text would be warranted because it would equip each student, as an eventual employee or business owner, with sufficient information to thoroughly understand the mechanics and potential political issues of qualified pension plans.
Fitch does not view the funded status of SPW's pension liabilities to be a significant credit risk and does not expect the discretionary contributions to qualified pension plans to be a significant part of cash deployment.

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